[Federal Register Volume 61, Number 41 (Thursday, February 29, 1996)]
[Notices]
[Pages 7792-7793]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4591]



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FEDERAL RESERVE SYSTEM

Wachovia Corporation, et al.; Notice of Applications to Engage de 
novo in Permissible Nonbanking Activities

    The companies listed in this notice have filed an application under 
Sec.  225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) 
for the Board's approval under section 4(c)(8) of the Bank Holding 
Company Act (12 U.S.C. 1843(c)(8)) and Sec.  225.21(a) of Regulation Y 
(12 CFR 225.21(a)) to commence or to engage de novo, either directly or 
through a subsidiary, in a nonbanking activity that is listed in Sec.  
225.25 of Regulation Y as closely related to banking and permissible 
for bank holding companies. Unless otherwise noted, such activities 
will be conducted throughout the United States.
    Each application is available for immediate inspection at the 
Federal Reserve Bank indicated. Once the application has been accepted 
for processing, it will also be available for inspection at the offices 
of the Board of Governors. Interested persons may express their views 
in writing on the question whether consummation of the proposal can 
``reasonably be expected to produce benefits to the public, such as 
greater convenience, increased competition, or gains in efficiency, 
that outweigh possible adverse effects, such as undue concentration of 
resources, decreased or unfair competition, conflicts of interests, or 
unsound banking practices.'' Any request for a hearing on this question 
must be accompanied by a statement of the reasons a written 
presentation would not suffice in lieu of a hearing, identifying 
specifically any questions of fact that are in dispute, summarizing the 
evidence that would be presented at a hearing, and indicating how the 
party commenting would be aggrieved by approval of the proposal.
    Unless otherwise noted, comments regarding the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than March 15, 1996.
    A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. Wachovia Corporation, Winston-Salem, North Carolina, and 
Wachovia Capital Markets, Inc., Atlanta, Georgia; to engage de novo 
through its subsidiary, Wachovia Capital Partners, Inc., Atlanta, 
Georgia, in providing tax planning and preparation services, pursuant 
to Sec.  225.25(b)(21) of the Board's Regulation Y.
    B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice 

[[Page 7793]]
    President) 925 Grand Avenue, Kansas City, Missouri 64198:
    1. Greater Metro Bank Holding Company, Aurora, Colorado; to engage 
de novo through its subsidiary, Greater Metro Insurance and Consulting 
Services, Inc., Aurora, Colorado, in the activity of providing 
management consulting services to depository institutions, pursuant to 
Sec.  225.25(b)(11) of the Board's Regulation Y.
    2. Labette County Bankshares, Inc., Altamont, Kansas; to engage de 
novo through its subsidiary, Kansas Credit, Inc., Altamont, Kansas, in 
establishing a consumer finance company, pursuant to Sec.  225.25(b)(1) 
of the Board's Regulation Y.
    C. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. South Plains Financial, Inc., Lubbock, Texas, and South Plains 
Delaware Financial Corporation, Dover, Delaware; to engage de novo 
through their subsidiary, South Plains Financial Services, Inc., 
Lubbock, Texas, in providing to others, data processing and data 
transmission services, facilities (including data processing and data 
transmission hardware, software, documentation or operating personnel), 
data bases, or access to such services, facilities, or data bases by 
any technological means pursuant to written agreements describing and 
limiting the services to the processing or furnishing of financial, 
banking, or economic data within the scope allowed by applicable 
statutes and regulations, including, processing and transmitting 
banking, financial, and economic related data for others through; 
timesharing; electronic funds transfer; home banking; authentication; 
provision of packaged financial systems to depository or other 
institutions to perform traditional banking functions such as data 
capture and sorting, balancing and statement printing; and back office 
services such as statement rendering, proof operations, research, 
filming, NSF's, data input and return items; selling excess capacity on 
data processing and transmission facilities; providing by-products of 
permissible data processing and data transmission services for the 
internal operations of South Plains Financial, Inc., and its 
subsidiaries, pursuant to Sec.  225.25(b)(7) of the Board's Regulation 
Y, and in performing appraisals of real estate and tangible and 
intangible personal property, including securities, pursuant to Sec.  
225.25(b)(13) of the Board's Regulation Y. The activities will be 
conducted thoughout the state of Texas.

    Board of Governors of the Federal Reserve System, February 23, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-4591 Filed 2-28-96; 8:45 am]
BILLING CODE 6210-01-F